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Inflation in June 2023 fell to a more than one-year low of 5.4 percent from 6.1 percent in May, pulled down by slower increases in the prices of food and non-alcoholic beverages, the Philippine Statistics Authority said Wednesday.
It was also slower than 6.1 percent registered in June 2022.
The PSA said inflation averaged 7.2 percent in the first half, still higher than the target range of 2 percent to 4 percent for the whole year.
“This is the fifth consecutive month of deceleration in the headline inflation and the lowest in the past 13 months,” national statistician Dennis Mapa said in an online briefing.